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Wednesday, August 9, 2017

Eclipse Resources Continues to Move Forward in the Utica Shale

From Seeking Alpha's transcript of Eclipse Resources' second quarter earnings call:
Eclipse is constantly striving to become more efficient and innovative in order to improve our well results. We have demonstrated that we lead the play and arguably lead all plays in terms of lateral length, and have been consistently the lowest cost producer in the core of Utica in terms of D&C cost per foot of lateral. 
Over the course of this year, we are also focusing on ways to reduce our cycle times and have continued to improve our operating pace, drilling our fastest well to date in approximately 12 days from spud to TD. Amazingly, this well was also a super-lateral [indiscernible] 15,600 foot lateral and 24,600 foot total measured depth. 
We continue to move forward with our Stacked Pay Stalder pad in Monroe County where we have drilled two condensate-rich Marcellus wells with an average lateral length of approximately 9,200 feet and three dry gas Utica wells which include our longest dry gas well drilled to date with a lateral of 14,400 feet. We will begin completing this pad in the fourth quarter and if the Marcellus wells perform as anticipated, this Marcellus condensate area acreage could generate returns consistent with our best Utica acreage, and includes over 70 risked 10,000 foot lateral locations that we would then develop in conjunction with our Dry Gas Utica position in this area of Ohio.

With our Gen-3 completion technique, we believe we are continuing to observe higher fracture conductivity and stimulated reservoir volumes, which we believe have increased by approximately 44% as compared to our Gen-1 wells in the Utica Condensate area. In our Utica Dry Gas acreage, we believe our normalized fracture area, which measures the effectiveness of our completion design, has increased by approximately 78% as compared to our Gen-1 completions.
Click here to read the entire transcript.

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